The company's financial position remains fragile, evidenced by an accumulated deficit of $869.8 million and a debt-to-equity ratio of 0.40 as of 2026Q2.
| Total Current Assets | 399.1M | 161.66M | 578.09M | 237M | 192.92M | 130.83M | 116.81M | 20.42M | 28.1M |
| Cash & Short-Term Investments | 293.35M | 109.21M | 76.67M | 71.93M | 66.69M | 8.98M | 554K | 1.1M | 1.14M |
| Cash Only | 293.35M | 109.21M | 76.67M | 71.93M | 66.69M | 8.98M | 554K | 1.1M | 1.14M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 72M | -421.33M | 55.08M | 80.9M | 49.03M | 41.6M | 64.95M | 55.66M | 102.5M |
| Days Sales Outstanding | -20.6 | - | 116.79 | 147.24 | 64.96 | 61.5 | 122.78 | 572.68 | 622.68 |
| Inventory | 33.74M | 6.35M | 11.03M | 16.17M | 36.07M | 31.73M | 28.68M | 4.39M | 6.7M |
| Days Inventory Outstanding | 5.19 | 9.5 | 24.65 | 34.62 | 50.3 | 50.63 | 60.25 | 50.5 | 44.08 |
| Other Current Assets | 0 | 2 | 1.94M | 96.21M | 67.25M | 72.09M | 45.61M | 44.8M | 65.91M |
| Total Non-Current Assets | 201.34M | 44.37M | 71.86M | 76.14M | 57.72M | 42.75M | 51.31M | 7.61M | 8.66M |
| Property, Plant & Equipment | 40.11M | 43.56M | 70.43M | 74.46M | 55.13M | 40.45M | 49.23M | 6.29M | 7.22M |
| Fixed Asset Turnover | 20.88x | 5.76x | 2.44x | 2.69x | 5.00x | 6.10x | 3.92x | 5.64x | 8.32x |
| Goodwill | 0 | 0 | 0 | 1.43M | 2.18M | 1.95M | 1.07M | 0 | 0 |
| Intangible Assets | 189.04K | 205K | 662K | 244.19K | 408.79K | 352.08K | 175.64K | 0 | 0 |
| Long-Term Investments | 160.51M | 0 | 0 | 0 | 0 | 0 | 833K | 127.39K | 155.42K |
| Other Non-Current Assets | 526.13K | 605K | 770K | 22K | 541K | 1 | 1.13M | 1.19M | 1.28M |
| Total Assets | 600.43M | 206.03M | 649.95M | 313.14M | 250.64M | 173.58M | 168.12M | 28.04M | 36.76M |
| Asset Turnover | 2.13x | 1.22x | 0.26x | 0.64x | 1.10x | 1.42x | 1.15x | 1.27x | 1.63x |
| Asset Growth % | 151.5% | -68.3% | 107.56% | 24.94% | 44.39% | 3.25% | 499.67% | -23.73% | - |
| Total Current Liabilities | 391.85M | 333.74M | 272.82M | 245.67M | 163.14M | 148.12M | 120.84M | 24.3M | 31.61M |
| Accounts Payable | 183.38M | 138.5M | 106.09M | 125.37M | 74.53M | 49.12M | 65.81M | 77.98M | 76.02M |
| Days Payables Outstanding | 45.41 | 207.26 | 237.15 | 268.42 | 103.94 | 78.39 | 138.26 | 896.42 | 500.38 |
| Short-Term Debt | 72.94M | 57.6M | 56.95M | 58.52M | 36.58M | 36.38M | 16.2M | 2.52M | 2.55M |
| Deferred Revenue (Current) | 97.39M | 47.22M | 4.76M | 17.09M | 16.61M | 39.77M | 16.87M | 0 | 0 |
| Other Current Liabilities | 74.4M | 1.6M | 1.39M | 38.97M | 36.96M | 49.24M | 22.94M | -71.01M | -148.53M |
| Current Ratio | 1.02x | 0.48x | 2.12x | 0.96x | 1.18x | 0.88x | 0.97x | 0.84x | 0.89x |
| Quick Ratio | 0.93x | 0.47x | 2.08x | 0.90x | 0.96x | 0.67x | 0.73x | 0.66x | 0.68x |
| Cash Conversion Cycle | -60.82 | - | -95.72 | -86.56 | 11.32 | 33.74 | 44.76 | -273.24 | 166.37 |
| Total Non-Current Liabilities | 6.72M | 10.15M | 14.52M | 26.74M | 23.04M | 285K | 7.34M | 1.16M | 0 |
| Long-Term Debt | 5.7M | 6M | 0 | 6.87M | 8.02M | 0 | 5.58M | 6.78M | 0 |
| Capital Lease Obligations | 19.1M | 1.62M | 10.05M | 10.88M | 14.55M | 285K | 1.36M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 295K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 4.47M | 0 | 466K | 0 | 400K | 0 | 0 |
| Total Liabilities | 398.56M | 343.89M | 287.34M | 272.41M | 186.17M | 148.4M | 128.18M | 25.46M | 31.61M |
| Total Debt | 79.65M | 69.3M | 73.83M | 76.43M | 62.51M | 37.81M | 24.18M | 3.53M | 2.55M |
| Net Debt | -213.7M | -39.91M | -2.85M | 4.5M | -4.18M | 28.83M | 23.62M | 2.42M | 1.41M |
| Debt / Equity | 0.40x | - | 0.20x | 1.88x | 0.97x | 1.50x | 0.61x | 1.37x | 0.52x |
| Debt / EBITDA | -0.02x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.05x | - | - | - | - | - | - | - | - |
| Interest Coverage | -727.03x | -169.24x | -8.33x | -12.62x | -7.08x | -5.90x | -11.29x | -6.74x | -39.16x |
| Total Equity | 200.25M | -137.85M | 362.61M | 40.73M | 64.47M | 25.18M | 39.94M | 2.57M | 4.89M |
| Equity Growth % | 1811.58% | -138.02% | 790.23% | -36.82% | 156.05% | -36.96% | 1451.34% | -47.41% | - |
| Book Value per Share | 2422.83 | -7650.06 | 999999.00 | 181353.76 | 394793.68 | 142566.05 | 226136.32 | 14576.80 | 27716.36 |
| Total Shareholders' Equity | 205.44M | -132.66M | 367.8M | 44.09M | 64.99M | 25.18M | 39.94M | 2.79M | 4.94M |
| Common Stock | 719.15K | 26K | 278K | 9K | 5K | 4K | 4K | 447 | 1.27K |
| Retained Earnings | -869.75M | -878.91M | -208.83M | -175.89M | -88.28M | -49.44M | -32.82M | -1.33M | 314.83K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 3.57M | 13.32M | 2.73M | 3.47M | 1.02M | 1.4M | -467K | 55.13K | 285.65K |
| Minority Interest | -5.19M | -5.19M | -5.19M | -3.36M | -520K | 0 | 0 | -210.83K | -48.3K |
Rapid liquidity depletion risk
According to recent financial statements, WTO's equity position has experienced extreme volatility, swinging from a negative $132.7 million in 2025Q4 to a positive $205.4 million by 2026Q2, a trend that suggests significant instability in the company's underlying net asset value and long-term financial health.
The erratic movement in equity, coupled with a massive accumulated deficit of $869.8 million, indicates that the company is struggling to retain value despite top-line growth. Investors should monitor whether this recent equity improvement is sustainable or merely a temporary artifact of financing activities rather than operational success.
Based on reported figures, WTO maintains a debt load of $79.7 million as of 2026Q2, representing a debt-to-equity ratio of 0.40, which appears to be a necessity-driven attempt to sustain operations rather than a strategic deployment of capital to drive profitable growth.
Given the company's persistent negative net margins, the reliance on debt to fund ongoing operations warrants caution regarding refinancing risk. The inability to generate internal cash flow suggests that any future debt service requirements could place further strain on the company's already limited liquidity.
As reported in financial filings, WTO's current ratio fluctuated significantly from 0.48 in 2025Q4 to 1.02 in 2026Q2, highlighting a precarious liquidity position that leaves the company with little buffer against unexpected shocks in its high-variable-cost manufacturing environment.
While the cash balance of $293.4 million in 2026Q2 provides a temporary cushion, the historical trend of rapid cash depletion suggests that this liquidity may be consumed quickly if the current operating losses persist. The volatility in the current ratio indicates that the company's ability to meet short-term obligations remains highly sensitive to working capital management.
Analysis of the balance sheet reveals an accumulated deficit of $869.8 million as of 2026Q2, a figure that, according to historical data, underscores the fundamental failure of the current business model to convert revenue into sustainable shareholder equity over the long term.
This massive deficit suggests that the company has been consistently destroying value, and the recent fluctuations in equity may be masking deeper, structural issues within the cost base. Investors should be wary of the potential for future capital raises or dilutive financing to address this persistent erosion of the balance sheet.
Quick answers to the most common questions about buying WTO stock.
As of 2025, UTime Limited (WTO) had total assets of $206.0M including $161.7M in current assets.
UTime Limited (WTO) carries total debt of $69.3M, offset by $109.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
UTime Limited (WTO) has total shareholders' equity (book value) of $-132.7M ($-7650.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
UTime Limited (WTO) reported a current ratio of 0.48x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.